Insurtech Magazine September 2023 | Page 71

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External expertise Stockhammer believes it ’ s crucial for players in the in sector to take not only feedback from their customers , but to align that feedback with the expertise of their technical partners . One of the key technical relationships Generali have is with Garmin .
Garmin was founded in 1989 by Gary Burrell and Min Kao , initially focused on developing GPS devices for aviation and marine use . The company later expanded to include products for outdoor , fitness , and automotive markets . It made them one of the leading exponents of exploiting GPS technology in a consumer market place , and they have continued to develop cutting-edge technologies since , such as GPS-enabled smartwatches and cycling computers .
As Stockhammer explains , it ’ s crucial for deployment in the overall digital transformation of insurance to leverage this kind of expertise — to the benefit of not just the consumer , but the insurance industry trying to develop smarter relationships with their clients .
He says : “ It ’ s a regular exchange — what can we do together next ? What ’ s the development ? How can Garmin help us ? How can we help Garmin ? What feedback are we getting from a customer ? What ’ s good , what ’ s not good ? What are they looking for ? So it really is a partnership .”
Just as the feedback from policyholders can provide a different perspective , Stockhammer is adamant that being open to , and embracing , technical advances can keep Generali Engagement Solutions
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